Rising consumer confidence, aggressive promotional activity and technological advances have propelled sales of cosmetics in the U.S. by 2.4% to reach $36.5 billion in 2010 at the manufacturers’ level, according to recently released data from worldwide consulting and research firm Kline & Company.Obviously, there’s a lot of competition out there.
Tammy Yaiser, director of product development at Fusion Beauty, said "Multi-functionals are not just a trend, but a lifestyle..these high--performance hybrids are color meets cutting edge."
Yaiser added that the secret to the success of a multifunctional product "lies in the balance between skin physiology, chemistry, marketing and regulatory."
In fact, 62% of Fusion Beauty users value a product that provides anti-aging benefits,” she added.
Linda Treska, director of global product Development for Laura Mercier Cosmetics, offered an overview on color cosmetic development and the history of the process itself. The session also touched on how to make indie brands stand out amongst the masses. Trae Bodge, co-founder of Three Custom Color, shared her sage industry experience on the topic. Marketers need to consider facets such as:
-Your brand: who are you? What is your story?
-Innovate, not replicate
-Determine your brand evolution
-Communication via social media
-Your calendar: ideally on 12-36 months.
“Your goal is to become a relevant brand,” said Bodge. She also suggested finding inspiration from national holidays, street fashion and runway trends.
Bodge also stressed the importance of the manufacturing process with the following considerations:
-Naming colors and collections
-Tester unit design
-Source unit cartons
-Retailer outreach and press
“Beauty bloggers can get behind you and keep you going,” added Bodge.